Posted by treasurehunt > 2021-10-10 19:15 | Report Abuse

Again, if you don't know how to read or interpret the announcement properly. Get someone to help you. I think many here are willing to lend their hands.

Posted by treasurehunt > 2021-10-10 19:45 | Report Abuse

Legal investigations..Possible of white-collar crime man. who will be the one do the legal investigations? KPMG, lawyer or Prosecutor (police) ?

Did you hear any 'legal investigations' in Serbadk after few months of ding-dong?

Posted by treasurehunt > 2021-10-10 19:53 | Report Abuse

CMSB's previous management team was appointed by the Owner, Taib. family, included Group MD (appointed director). Serbadk MD is the owner cum MD man. See the difference picture or not?

Posted by AnsonLiew > 2021-10-10 20:04 | Report Abuse

aiya same with transmile case la

Md and cfo fool the bod by doing fraud

see how transmile end up delisting even robert kok family also can fool by management

soon cmsb follow transmile case delisting

Posted by AnsonLiew > 2021-10-10 20:05 | Report Abuse

kwsp sure know something fishy la tats y they dump every thing bye bye to cmsb

u think ur analysis better than kwsp analyst????????

Posted by treasurehunt > 2021-10-10 20:17 | Report Abuse

Switch to Transmile scandal ...Wait ah

Posted by moneyface > 2021-10-10 20:17 | Report Abuse

Anson, you are right! The KPMG audit report will tell us the whole story

Posted by treasurehunt > 2021-10-10 20:19 | Report Abuse

Transmile...Go to read the story before tembak again.

While many analysts were focused on the earnings and company’s
prospects, there were other indicators that could have a material effect on
the investors’ decisions to invest in the company but were largely missing
from many analysts’ reports. Despite being a strong growth company,
Transmile had not really been able to turn its sales into cash. Transmile’s
trade receivables had been building over the years with trade receivables
for 2006 were reported at RM381.2 million, which was a 243% jump or
RM270.1 million more than the previous year, while growth in 2005 was
5% and 2004, 46.1%. With revenue recorded increase of 80% or RM439.1
million during the same year 2006, receivables accounted for much more
of the company’s revenue growth. Since trade receivables could have
influence on the profitability reported, it would be prudent for analyst to
be on the alert as these trade receivables could easily be re-classified as
doubtful debts.
The cash flows from the operation activities substantially dropped
from RM161.2 million in 2005 to RM18 million in 2006, which resulted
in the company not having sufficient fund from its operating activities
to service the interest payments of existing debt which stood at RM36.5
million. The shortfall had been financed by its cash flow from financing
activities. Given the substantial drop in the operating cash flow and the
level of debts, question lingered over the sufficiency of the future cash flow

Posted by treasurehunt > 2021-10-10 20:23 | Report Abuse

From the operation activities to service the interest payments of the debts. The drop also gave rise to concerns on its ability to finance its futuregrowth as seeking funds maybe more expensive in the future. Transmile’s cash and bank balances as at year-end 2006 stood at RM417 million. Of this amount, only a meager RM18 million came from its operating activitieswhile much of it, RM260.7 million was from the previous year and RM287 million from the issuance of new shares.

Posted by treasurehunt > 2021-10-10 20:24 | Report Abuse

AnalystsTransmile had always been one of the favorite companies forinvestors and analysts alike. Its share price had risen by 428.3% since2003 and analysts had always maintained bullish views on Transmile.Key points that were usually highlighted by analysts were, Transmile’s strong growth in earnings; its five year pact with DHL, as its strategic partner; its landing rights in various cities around Asia, freedom rightsout of Hong Kong and China to the US; its increasing capacity includingthe four long haul and fuel efficient MD11 planes freighters; and thecompany’s strong and reputable shareholders such as The Kuok Groupand Pos Malaysia. In order to encourage a better understanding of the company’s performance and latest developments, Transmile had also conducted several briefing sessions to interested fund managers and analysts and “one to one” dialogue sessions upon request. AdvocacyOn 15 February 2007, the company released its unaudited 4th Quarter of 2006 report. Both local and foreign analysts, agreed with it by giving

Posted by treasurehunt > 2021-10-10 20:25 | Report Abuse

positive assessments on the company’s prospect and lofty target prices.These, despite the fact that profit growth were unusually high – a common general red flag for financial statement fraud. One of the leading local research houses was rating Transmile’s share as a “strong buy” with an expected total return exceeding 20% in the next 12 months, underpinnedby the reported net profit growth of 110.5%. An analyst explained thatthis was mainly due to the increase in aircraft capacity in 2006,contributed by the arrival of four MD-11s in September 2005. Curiously enough, the research house’s own estimate on the Transmile’s profitwasn’t that far off, but merely by 1.5% than that of Transmile’s own inflated figure. Other analysts were not bad either in their estimates, with Transmile’s figures were just 4.6% above consensus. This gave riseto suspicion that the analysts could have gotten wind of the informationfrom insiders in Transmile

Posted by treasurehunt > 2021-10-10 20:27 | Report Abuse

My analysis is based on facts not what I heard... gullible again worshipping God like analyst. I don't have to cari makan in Bursa anymore.

Posted by treasurehunt > 2021-10-10 20:44 | Report Abuse

Full story of Transmile just in case you have forgotten some details... For reading pleasure.


https://so04.tci-thaijo.org/index.php/NCRJ/article/view/25093/21369

Posted by treasurehunt > 2021-10-10 20:49 | Report Abuse

EPF God like analyst good man.....EPF still keen on winding up Transmile which ownes RM 500 mil old story

https://www.thestar.com.my/business/business-news/2010/09/29/epf-still-keen-on-winding-up-transmile-which-owes-rm500mil

Posted by treasurehunt > 2021-10-10 20:52 | Report Abuse

What have you guys learned from Transmile & Serbadk cases... simply tembak for pleasure?

Posted by AnsonLiew > 2021-10-10 21:17 | Report Abuse

insder oredy know story behind la tats y dump from 2.4 to 1.1

all big guy oredy cabut no longer interested

only genius guys like treasurehunt still dreaming here

must be stuck at somewhere 3.5 above

hahahahaha

Posted by treasurehunt > 2021-10-10 21:35 | Report Abuse

Simply tembak again... 3.5? Go to check when i started posting in CMSB thread la.

Posted by treasurehunt > 2021-10-10 21:39 | Report Abuse

Not interested in entertaining people who is intending simply tembak for pleasure rather than exchanging knowledge. I come here to make money. Time will tell soon. Hahaha

Posted by charlie chia > 2021-10-10 21:40 | Report Abuse

Just leave him alone like invisible to us

Posted by treasurehunt > 2021-10-10 21:45 | Report Abuse

Anyway, thanks Anson...He has triggered me to look for more information about 'legal investigations'. No more nonsense now. hi hi.

Posted by treasurehunt > 2021-10-10 22:48 | Report Abuse

I have to admit that we are more sophisticated than layman investors. They are really badly informed through reading news on the press.

Here's the summary of his concerns raised by Anson:

1. CMSB's CFO has resigned from his employment.
Answer: CFO was fired through non renewal of the employment contract

2. Group MD has resigned from his employment.
Answer : Group MD was seen forced from early retirement through the transitional plan

3. Lembaga Tabung Haji (LTH) dumping the shares.
Answer : LTH remains the substantial shareholder held 7.57% after trimming its stakes.

4.EPF ceased to be substantial shareholder
Answer : It's hard to gauge EPF direction. They even ceased to be the substantial shareholder of TAAn in Aug 21.

5. CMSB's case sharing the similar commonity with Serbadk.
Answer : CMSB has delayed disclosure of the KPMG findings until end of October as legal investigations is underway. This, is what really different from Serbadk.

Posted by sangkancil > 2021-10-10 22:49 | Report Abuse

thanks treasure hunt for your sharing . its a good pick

Posted by treasurehunt > 2021-10-10 23:10 | Report Abuse

6. CMSB case sharing the similar common scandal issues with Transmile

Answer : Transmile scandal is not as complexed as it seen. Inflated Receivable and rapid depleting cash in Bank in a short period are the good warning signals. As far as i know, Transmile had been enjoying robust revenues growth in 3 years and Receivable inflated to 381 millions for 2006 or surged 270m in comparison to the previous year. In addition, cash flows from operation activities substantially dropped from 161 million to 18 million in 2006.
CMSB doesn't face any inflated Receivable or depletion of cash flows. CMSB net cash used in operating activities is merely 1.5 million in 6 months results to 30 Jun 21.

Investment securities 409 million
Cash and bank Balance 375 million
Non Current Loan 325 million
Current loans 588 million
Net Bank loans 129 million

CMSB's Receivable was merely 152 million or reduced by 30 million in comparison to the 4th Qtr 21. Inventories remained 330 million

Posted by treasurehunt > 2021-10-10 23:48 | Report Abuse

7. KPMG investigation report will be ultra ugly and spooking investors. CMSB will announce the KPMG findings by the end of October.
Answer : CMSB said that independent review has been completed by KPMG and legal investigations of the said investments and contracts are still ongoing.As far as i know, legal investigations is such a gathering together of facts in a situation which will be tried in the court. CMSB may take legal action against the previous management for mishandling the company affairs and possible of white-collar crime action.
I can't think of other ugly areas in the accounts which will be affected the company substantial future cash out flows to the company. The accounts looks good except 60% ownership of the Phosphate division investment which is not audited by EY. CMSB does not enter into any commodity contract posting the unaccountable risks. Any ideas of the potential risky area?

"KPMG MRC has completed its reports, the legal investigations of the said investments and contracts are still ongoing. The Company expects the complete results of the review to be announced by the end of October 2021."

Posted by Luckyboy88 > 2021-10-11 02:20 | Report Abuse

Superman, don't u feel tired??
This Anson, give comparison also so lousy, sigh!!

Transmile : this company business plan was destined to close shop for it reluctant/unable to evolve with time. It came to existence in 90's because there are growing urgency for air transportation of niche products across the supply chains across globe. Malaysia experience a boom in manufacturing, particularly in E&E and semiconductor industries. Though still at infancy, as more FDI pouring in, demand for air transportation increasing at exponential rate.

Time change,

1) industry revolution and marketing strategy had force Mutinational companies instead of dedicated of specific components or parts (spread manufacturing), consolidate everything into 1 roof according to regions. They encourage the development of support industries at nearby satellite towns that's slowly depleting amount of goods handle by transmile.
I skip why the do this.

2) great expansion of maritime asset ( shipping linears and deep water ports) plus land connectivity. With much bigger class contena, safer and frequency increase, supply chain cannot feel the disruption in their process cos needed parts can replenish in time (semi or fully finish products) compare to 10 days or more in conventional sea transport. That reduce a lot on meaning of urgency.

3) put everything in 1 basket. Only 1 core business where else aerospace spare parts and aeroplane repairing contribution is small. At its peak Transmile owned 15 aircrafts, 9 Boeing 737 with balance propellers. How to compete with DHL, FEDEX or UPS in terms of network?

While running on depleted cash flow, the only options is bank borrowing. It very common in the 80's/90's where business community take loop hole in bankruptcy act's to con banks. GAN just do it 1 step ahead by listing it in Klse and got Kwok along they way. Is it act of desperation or preplanned on 1st day, only he got the answer.

When Transmile pronounced died on March 2011, Airasia is at it's prime time. Do u think TF will miss the chance as to fill the vacumm left behind if its so lucrative business? Airasia got cargo but not intended to challenge international market leaders.

Even in e-commerce era or gig economy, well established freight companies also dun dare big head going into air operators. They buy air slots to connect B2B or B2C, max 1 or 2 aircrafts that's suite operation requirements.

Posted by Luckyboy88 > 2021-10-11 03:24 | Report Abuse

Check out CMSB business plan and business structure. Treasurehunt already tabulated nicely the contribution from each sectors, subsidiaries, associates and JV 4 2019/2020. AR some more.
If auditted u say is fraud, then this is very serious allegation.

Covid19 pandemic is a good tools for STRESS TEST for business sustainability. ISO std la. Compare how effected sector like construction and property div weakness got cover back by others. So how cmsb can become tramsmile with only 1 main dish??

Now with full recovery announcements, the restrictions on affected sectors will be reliefs and thus better income ahead.

Cement - full force
Facilities management (Road building/maintenance) - no more stop order
KKB - engineering full force
Kenanga - financial services, not much change
OMH - Better ASP going forward
MSAP - bigger scale compare previously
Sacofa - big tender coming soon

As for Sacofa, 1/3 already in pocket cos nobody can bypass peh MOH in Sarawak. Not even Mahathir when at his prime. Just see how much more Sacofa can officially get.

Blind also can see big earning on pipeline. Why u very worried meh??

I'm a fair person, come up with more supporting arguments, reports or articles. Dun just use bankrupt, pn17, die la or other low iq words.

1st time, when 1.04 I say buy it goes to 1.43 ( + 37.5%) lucky correct
2nd time, when drop back I say those sold remember buy back around 1.2

To date rise back to 1.36 ( +13.3%)

Everyday cmsb got 4-8 millions turnover, so dun worry if there is no buyer 4 ur tickets.

BERANI KERANA BENAR!

Monday gap up!!!

Posted by Target1 > 2021-10-11 07:14 | Report Abuse

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Posted by gemfinder > 2021-10-11 08:15 | Report Abuse

Anson, tis cmsb oso got problem like scib ka?

Posted by monetary > 2021-10-11 08:28 | Report Abuse

CMS starts getting attention from more ppl. Both positive n negative. Good sign!

Posted by AnsonLiew > 2021-10-11 08:41 | Report Abuse

aiya same cases la

fraud case

short term borrowing also ballooning

gg

Posted by AnsonLiew > 2021-10-11 08:42 | Report Abuse

Gmd force to retired something fishy

Bod got someting to hide they kick out the gmd

Posted by AnsonLiew > 2021-10-11 08:44 | Report Abuse

tis counter no hope also treasurehunt siookkkk sendiri here

same like karim boss give u fake hope bcause he bought at very high now wan na cabut can't

hahahahahaha

Posted by AnsonLiew > 2021-10-11 08:45 | Report Abuse

never learn lesson
fraud counter dont buy la

i can see 2nd transmile in the making

Posted by AnsonLiew > 2021-10-11 08:48 | Report Abuse

sure someting fishy not only gmd, cfo force to resign and contract not getting renew, even few Bod member also resign and excuse given bcausd of personal matter???????

sure boh?????

Posted by AnsonLiew > 2021-10-11 08:53 | Report Abuse

they dispose both SEDC & PPES stake recently bcause of tight cash flow

if u check their balance sheet u sure find someting la

tis treasurehunt only draw good picture never drill into their balance sheet Lol


hahahahahahha

Posted by AnsonLiew > 2021-10-11 08:54 | Report Abuse

they even dump kenanga also go check who tell lie now

Posted by AnsonLiew > 2021-10-11 08:56 | Report Abuse

mana treasurehunt

hiding in cave ah????? wanna tell lie also pls do some homework la

Posted by treasurehunt > 2021-10-11 09:10 | Report Abuse

1.4 is cracking... Money money

Posted by monetary > 2021-10-11 09:10 | Report Abuse

1.4 already. talk what also no use. hehe.....

Posted by AnsonLiew > 2021-10-11 09:14 | Report Abuse

ohhhhh no drop back

hahahahahaha

treasurehunt come la how u explain their balance sheet???????


Lol

Posted by AnsonLiew > 2021-10-11 09:17 | Report Abuse

alamak pull back oredy soon 1.3

hahahahahaha

cant break la

u all kena trap by treasurehunt

Posted by Luckyboy88 > 2021-10-11 09:48 | Report Abuse

Lucky brought Muhibah too. Already showing sign moving up. Very cheap and big potential.

My cost 0.895

Posted by RRWin89 > 2021-10-11 09:55 | Report Abuse

ok. park dulu. hehe

Posted by Goldberg > 2021-10-11 10:03 | Report Abuse

CMS's associate OMH to boost earnings going forward.
--------------------------------------------------------------

Cement - full force
Facilities management (Road building/maintenance) - no more stop order
KKB - engineering full force
Kenanga - financial services, not much change
OMH - Better ASP going forward - the biggest catalyst for further upside.
MSAP - bigger scale compare previously
Sacofa - big tender coming soon

Posted by AnsonLiew > 2021-10-11 10:30 | Report Abuse

omh
msap

both making loss segments la

Lol

Posted by Investeye > 2021-10-11 11:11 | Report Abuse

Will Sacofa (CMSB is holding 50% stake) be one of the three contractors for 600 telecommunication towers in Sarawak? We will know very soon.

Posted by Investeye > 2021-10-11 11:14 | Report Abuse

https://remonews.com/malaysia/process-to-build-over-600-telecommunication-towers-in-sarawak-to-begin-this-month-annuar/

Posted by Investeye > 2021-10-11 11:16 | Report Abuse

https://www.cmsb.my/business-divisions/information_communication_technology/

Posted by RRWin89 > 2021-10-11 11:32 | Report Abuse

sell que too thick. doubting cmsb when swak election is around the corner. hehe. save show for other day.

Posted by monetary > 2021-10-11 12:11 | Report Abuse

sell q is to wash out ppl who don't know what they bought.